Euromoney FX Fistfight Is Over for Another Year

By

Alexandra Fletcher

May 10, 2012 11:18 am GMT

So the annual clash of egos in the global foreign-exchange market is finally over for another year.

Cue relief all around. Because for market participants, the yearly Euromoney Foreign Exchange Survey merry-go-round is a proverbial pain in the backside as FX-dealing banks scramble to secure those all-important votes from their clients.

The wait is over and for some major banks that means basking in the glory of success (or disappointment) among your peers as the results come in and the business heads enjoy their £5,000-a-table-dinner at the Euromoney awards ceremony.

Cue vodka luges, live band karaoke, Scalextrics and back slapping.

The small fries have taken a beating this year as the biggest banks have stolen a still-bigger proportion of the market share. This year, the top five FX-dealing banks share a whopping 55% of the $4 trillion-a-day market.

So it’s no surprise that FX doyen Deutsche Bank again tops the poll for an eighth year in a row.